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ICTSI wins South African court ruling on Durban port deal
International Container Terminal Services Inc. (ICTSI) has secured its 25-year concession for the Durban Container Terminal (DCT) Pier 2 after a South African High Court dismissed a challenge by APM Terminals BV, a subsidiary of Maersk Group.
The court ruled that the state-run Transnet SOC Ltd. acted appropriately in awarding the concession to ICTSI and found no issues with the bidding process's fairness and transparency.
APM Terminals' claim that ICTSI failed to meet bidding requirements, specifically regarding solvency ratio, was rejected, with the court affirming ICTSI's financial stability was sufficient.
The court also found that APM's legal challenge was brought with undue delay, further justifying its dismissal.
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